Here is a classic definition of a company's articles of association: "The company's articles of association are autonomous regulations formulated by shareholders that have binding force on the company and its management personnel to adjust the internal organizational relationships and business behavior of the company. Therefore," company autonomy rules "are the fundamental attribute of the company's articles of association, and in this sense, the company's meaning is the" company charter " It is appropriate, and its significance to companies is similar to the significance of the Constitution to a country. The effectiveness of the Eight Companies' Articles of Association should be given sufficient attention.

章程效力主要包括兩個方面:

The effectiveness of the articles of association mainly includes two aspects:

，時間效力。公司設立時的首份公司章程，相當于公司設立協議可以適用《合同法》的一般規則，即簽宇蓋章時生效，工商備案登記不影響章黑的效力。發起設立公司的初始股東自公司章程生效時即受其約束。涉及即將立的公司、即將履職的董監高以及未來加入公司的新股東的章程內容，則在公司經工商設立登記完畢后，對其開始生效并產生約束力。公司成立后修改的公司章程，在符合法定的修改條件之后即開始生效。

Firstly, time effectiveness. The first articles of association of a company at the time of its establishment are equivalent to the general rules of the Contract Law applicable to the company establishment agreement, which takes effect when signed and stamped, and the industrial and commercial registration does not affect the effectiveness of the seal. The initial shareholders who initiate the establishment of a company are bound by its articles of association from the time they come into effect. The articles of association related to the upcoming company, the upcoming directors, supervisors, and new shareholders who will join the company in the future shall come into effect and have binding force upon the company after its establishment and registration with the industrial and commercial authorities. The articles of association modified after the establishment of the company shall take effect upon meeting the statutory modification conditions.

第二，對人效力。對公司的效力:包括對內部組織和活動的約束力以及對公司自身行為的約束力，尤其是其經營范圍的規定。

Secondly, personal effectiveness. Effectiveness of the company: including the binding force on internal organizations and activities, as well as the binding force on the company's own actions, especially the provisions of its business scope.

對股東的效力:公司章程作為股東的自治規則，與股東協議有明顯的不同除了股東應當受其約束以外，公司章程的效力還有擴張性，對后加人的股東也有約束力。在公司成立之后，無論以何種方式取得股東身份，都是以承認公司章程作為前提的，即加人公司的行為本身就意味著承認公司章程。

Effectiveness to shareholders: As an autonomous rule for shareholders, the company's articles of association are significantly different from shareholder agreements. In addition to being bound by shareholders, the effectiveness of the company's articles of association also has an expansionary nature and is binding on subsequent shareholders. After the establishment of a company, regardless of the method of obtaining shareholder status, recognition of the company's articles of association is a prerequisite, that is, the act of adding personnel to the company itself means recognition of the company's articles of association.

(3)公司章程的自治空間

(3) Autonomy Space of Company Articles of Association

《公司法》給了股東足夠的自治空間，表現為尊重股東通過公司章程貫徹自治原則。在進行股權架構設計時，可以充分利用這些自治空間滿足股東的-部分特殊需求。《公司法》及其司法解釋共計有 8 大類 35 處直接授權公司章程作出約定的條款，具體如下:

The Company Law provides sufficient autonomy space for shareholders, manifested in respecting the principle of autonomy implemented by shareholders through the company's articles of association. When designing the equity structure, these autonomous spaces can be fully utilized to meet some of the special needs of shareholders. The Company Law and its judicial interpretations have a total of 8 categories and 35 provisions that directly authorize the company's articles of association to make provisions, as follows:

根據上面的討論，公司章程是股權架構設計的必備載體，公司的設立及少更都離不開公司章程，它除了滿足法定要求之外，還解決了一部分的股東個性需求;股東協議也是股權架構設計的重要載體，但不是每個公司都需要這種文件形式來協助確定股權架構，它解決的都是股東的個性化需求。除了這兩種載體形式以外，股東還可以根據公司現狀及股東之間的關系，選擇其他載體形式協助股權架構設計的落地，常見的形式包括:

According to the above discussion, the company's articles of association are an essential carrier for designing the equity structure. The establishment and establishment of a company cannot be separated from the company's articles of association. In addition to meeting legal requirements, it also addresses some of the individual needs of shareholders; The shareholder agreement is also an important carrier of equity structure design, but not every company needs this document form to assist in determining the equity structure. It addresses the personalized needs of shareholders. In addition to these two forms of carriers, shareholders can also choose other forms of carriers to assist in the implementation of equity structure design based on the company's current situation and the relationship between shareholders. Common forms include:

(1)表決權委托協議;

(1) Voting Rights Entrustment Agreement;

(2)一致行動協議;

(2) Agreement on concerted action;

(3)股權代持協議;

(3) Equity holding agreement;

(4)持股路徑安排，包括:設立持股平臺(通常為有限合伙企業或有限公司)、搭建金字塔式持股結構、進行交叉持股安排等。

(4) The arrangement of shareholding paths includes establishing a shareholding platform (usually a limited partnership or limited company), building a pyramid shaped shareholding structure, and conducting cross shareholding arrangements.

當然，上述協議形式有時是獨立的，有時又部分嵌入到股東協議之中具體采用哪種形式取決于公司治理的需求及股東之間的默契。關于持股路徑安排，更多體現的是一種股權結構化設計，雖然不是明確具體的載體形式，但從廣義角度看，也是承接股權架構落地的抽象操作安排。公司在設計股權架構時具體采用哪種方式落地，需要結合公司自身需求、功能要求等靈活使用。

Of course, the above agreement forms are sometimes independent, and sometimes partially embedded in the shareholder agreement. The specific form adopted depends on the needs of corporate governance and the tacit understanding between shareholders. Regarding the arrangement of shareholding paths, it more reflects a structured equity design. Although it is not a specific carrier form, from a broad perspective, it is also an abstract operational arrangement to undertake the implementation of equity structures. The specific method adopted by the company in designing its equity structure needs to be flexibly used in conjunction with the company's own needs, functional requirements, and other requirements.